Carlsberg beer sales hit by China's shuttered karaoke bars

Empty Chinese streets and karaoke bars will hit short-term sales in Carlsberg's biggest market, the Danish brewer reported on Tuesday.

Ciara Lee reports

Empty Chinese streets and karaoke bars will hit short-term sales at Carlsberg, as an outbreak of the coronavirus keeps people away.

The Danish brewer said on Tuesday it expects the decline in sales to be short term The coronavirus has killed over 420 people and infected more than 20,000, prompting bars and restaurants to shut up shop.

Carlsberg said it wouldn't change its forecast or strategy for China as a result of the virus though.

Sales for the company in China grew by 19% last year, outpacing a slightly declining underlying market The world's third-largest brewer said total volumes contracted by 2% Carlsberg's full-year sales grew by 3.2% to $9.7 billion, just below analyst forecasts.

Sales in Asia grew by 12.3% mainly driven by China, where it sold more expensive beers.